The total consideration for the transaction represents an implied proforma purchase multiple of 4.4x EBITDA for 2019, after accounting for $28m in expected annual rent payments to GLPI with respect to the Evansville property.Īs a result of the transaction structure, Twin River will make the acquisition without any cash outlay. GLPI will also acquire the real estate at Twin River's Dover Downs venue in Delaware for $144m and lease it back to Twin River at $12m per year. The deal will see Twin River also acquire unencumbered rights to sports betting and iGaming skins associated with the Evansville operations to access the growing Indiana market.Īs part of the acquisition, Gaming and Leisure Properties (GLPI) will acquire the Evansville casino real estate for $340m and lease it back to Twin River for $28m per year in rent, subject to escalation. New York-listed casino operator Twin River Worldwide Holdings has entered into an agreement to acquire the Tropicana Evansville casino in Indiana from Caesars Entertainment for $140m.

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